Place the peanut butter in a large bowl and gradually add the milk, whisking until fully incorporated. Whisk in the eggs, vanilla, salt, and 3/4 cup sugar. Add the bread and toss to coat. Cover and refrigerate, mixing once, for 20 minutes.

Meanwhile, in a medium bowl, toss together the strawberries and remaining 1/4 cup sugar. Let sit, tossing occasionally, until ready to use.

Transfer two-thirds of the bread mixture to the prepared dish, arranging it in an even layer. Dollop with small spoonfuls of half the preserves. Scatter half the strawberries on top (drizzling over half of any juices).

Top with the remaining bread mixture and strawberries (and juices). Cover with foil and bake for 15 minutes. Uncover and continue baking until just set, 35 to 45 minutes more.

While hot, spread the remaining preserves over the top and let rest for at least 5 minutes. Sprinkle with the peanuts just before serving.

Con Poulos; Food styling by Anne Disrude; Prop styling by Erin Swift

The best part about this dessert? The peanut butter and jelly flavors are just as great for brunch.

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